The domestic stock market yesterday skyrocketed; appreciating by N404 billion as market players reacted to Dangote Cement share buyback notification and invest in dividend paying stocks.
Specifically, market capitalisation of listed equities increased by 1.71 per cent to N24.034 trillion from N23.630 trillion reported the previous day.
The NGX All Share Index also appreciated by 749.52 basis points to 44608.82 points from 43859.30 traded on Tuesday.
Investors traded 266.328 million shares valued at N3.822 billion in 4502 deals against 294.539 million shares cost N7.768 billion exchanged hands the previous day in 4501 deals.
Commenting on the performance of the stock yesterday, the Chief Research Officer, Investdata Consulting Ltd, Mr Ambrose Omordion said Market players reaction to Dangote cement share buyback notification, buying interest in telecoms giant MTNN and dividend payment stocks that witnessed profit taking, created by entry opportunity for discerning investors ahead of 2021 full year earnings reporting season that expected to kick off any moment from now with unaudited fourth quarter financial result.
An analysis of the investment showed that Jaiz Bank Plc led gainers table during the day, appreciating by 10 per cent to N0.66, Academy Press followed with a gain of 10 per cent to close at N0.66, Unity Bank gained 8.70 per cent to N0.50, Sovereign Trust Insurance added 8.33 per cent to N0.26, Mutual Benefits Assurance gained 7.41 per cent to N0.29.
On the contrary,Regal Insurance recorded the highest loss during the day, shedding 8.70 per cent to N0.42, Chi Plc trailed with a loss of 8.70 per cent to N0.63,
Sunu Insurance fell by 8.11 per cent to N0.34, AIICO Insurance down by 3.70 per cent to N0.78, Neimeth international Pharmaceutical sheds 3.23 per cent to N1.80.
The result further showed that Transnational Corporation of Nigeria was the most active stock during the day, exchanging 89.018 million shares valued at N89.873 million, FBNHoldings followed with account of 30.490 million shares worth N365.671 million, Jaiz Bank traded 14.202 million shares cost N8.974 million, Sterling Bank sold a total of11.694 million shares valued at N17.701 million while GTCO Plc exchanged 9.830 million shares valued at N250.318 million.
